AMR, which filed for bankruptcy in November 2011, isweighing merging with rival US Airways Group Inc againstexiting Chapter 11 as a standalone company.

When companies go bankrupt, their stock is usually wipedout. AMR originally opposed the appointment of an equitycommittee in its Chapter 11 case because of an initial view thatshareholders did not stand much chance of recovering anythingmeaningful.

But in a Jan. 3 letter to the U.S. Justice Department, madepublic in a federal filing on Tuesday, AMR cited a "change incircumstances concerning the potential economic interests of AMRequity holders."

The letter, written by AMR attorney Harvey Miller, says thecarrier has made progress over the past year and its value has"significantly appreciated."

The case is In re AMR Corp et al, U.S. Bankruptcy Court,Southern District of New York, No. 11-15463.